A pure monopolist is selling 7 units at a price of $12. If the marginal revenue of the 8th unit is $4, then the price of the 8th unit is

If the full-employment level of real GDP is greater than the equilibrium level of real GDP, the nation would be experiencing a(n)

A) inflationary gap. B) recessionary gap. C) demand-pull inflation. D) rising prices.

Which of the following is an important issue in the Keynesian-Monetarist debate?

a. The relative importance of monetary and fiscal policy. b. The nature of the transmission mechanism through which a change in the money supply affects the economy. c. The shape of the investment-demand curve. d. All of these.